Emberworth Limited Filleted accounts for Companies House (small and micro)

EMBERWORTH LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 2277379

Emberworth Limited

Filleted Unaudited Financial Statements

For the Year Ended

31 December 2019

Emberworth Limited

Financial Statements

Year Ended 31st December 2019

Contents	Pages

Officers and Professional Advisers	1

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements	2

Statement of Financial Position	3 to 4

Notes to the Financial Statements	5 to 8

Emberworth Limited

Officers and Professional Advisers

The Board of Directors	N.J. Percival
	C.E. Percival

Company Secretary	C.J. Chambers

Registered Office	Little Crepping
	Wakes Colne
	Colchester
	Essex
	CO6 2AL

Accountants	Peyton Tyler Mears
	Chartered accountants
	Middleborough House
	16 Middleborough
	Colchester
	Essex
	CO1 1QT

Emberworth Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Emberworth Limited

Year Ended 31st December 2019

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31st December 2019, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Peyton Tyler Mears Chartered accountants

Middleborough House 16 Middleborough Colchester Essex CO1 1QT

30 November 2020

Emberworth Limited

Statement of Financial Position

31 December 2019

	2019		2018
Note	£	£	£

Fixed Assets

Tangible assets	4	1,230,044	2,792,985
Investments	5	459,918	459,918
		------------	------------
		1,689,962	3,252,903

Current Assets

Stocks		2,514,503	–
Debtors	6	39,472	15,964
Cash at bank and in hand		12,171	3,685
		------------	--------
		2,566,146	19,649

Creditors: amounts falling due within one year	7	3,135,542		2,343,673
		------------		------------
Net Current Liabilities			569,396	2,324,024
			------------	------------
Total Assets Less Current Liabilities			1,120,566	928,879
			------------	---------
Net Assets			1,120,566	928,879
			------------	---------

Capital and Reserves

Called up share capital	100	100
Profit and loss account	1,120,466	928,779
	------------	---------
Shareholders Funds	1,120,566	928,879
	------------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31st December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Emberworth Limited

Statement of Financial Position (continued)

31 December 2019

These financial statements were approved by the board of directors and authorised for issue on 30 November 2020 , and are signed on behalf of the board by:

N.J. Percival
Director

Company registration number: 2277379

Emberworth Limited

Notes to the Financial Statements

Year Ended 31st December 2019

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Little Crepping, Wakes Colne, Colchester, CO6 2AL, Essex.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in Associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in Joint Ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial Instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Tangible Assets

	Freehold property	Leasehold property	Total
	£	£	£
Cost
At 1st January 2019	2,364,804	428,181	2,792,985
Additions	50,688	–	50,688
Disposals	( 1,613,629)	–	( 1,613,629)
	------------	---------	------------
At 31st December 2019	801,863	428,181	1,230,044
	------------	---------	------------
Depreciation
At 1st January 2019 and 31st December 2019	–	–	–
	------------	---------	------------
Carrying amount
At 31st December 2019	801,863	428,181	1,230,044
	------------	---------	------------
At 31st December 2018	2,364,804	428,181	2,792,985
	------------	---------	------------

5. Investments

	Shares in group undertakings
	£
Cost
At 1st January 2019 and 31st December 2019	459,918
	---------
Impairment
At 1st January 2019 and 31st December 2019	–
	---------

Carrying amount
At 31st December 2019	459,918
	---------
At 31st December 2018	459,918
	---------

6. Debtors

	2019	2018
	£	£
Trade debtors	11,824	10,559
Other debtors	27,648	5,405
	--------	--------
	39,472	15,964
	--------	--------

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Bank loans and overdrafts	1,678,130	1,705,570
Trade creditors	68,723	5,961
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,139,713	348,713
Other creditors	248,976	283,429
	------------	------------
	3,135,542	2,343,673
	------------	------------

Lloyds Bank Plc holds a fixed and floating charge over the property of the company.